Details added (first version posted at 11:51)
Baku, Azerbaijan, Apr. 29
By Azad Hasanli – Trend:
It is time to create an export-import (EXIM) bank in Azerbaijan, said Ali Ihsan Genc, chairman of the Businessmen and Industrialists of Turkey and Azerbaijan Public Association (TUIB).
He made the remarks Apr. 29 at an annual general meeting of TUIB members in Baku.
The TUIB chairman noted that such a bank could help develop the non-oil sector and increase investments in the Azerbaijani economy.
The World Bank (WB) senior financial sector specialist, Angela Prigozhina, said in February that the WB is interested in the creation of a development bank in Azerbaijan.
The export-import banks are institutions aiming to carry out long-term export crediting and refinance or guarantee loans of private banks. Japan, France, the US, the Czech Republic and other countries already have EXIM banks.